In addition to his love for paper industry, Frank is also dedicated to helping small business entrepreneurs to run better businesses.
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- Advice that you would give to First-time Startup Founders
Brand awareness is a marketing term that describes the degree of consumer recognition of a product or service – but it doesn’t have to be that technical
The simple definition is the amount of familiarity that consumers have of a product or service.
When a consumer comes across the brand name, brand logo, slogan or packaging, they should be able to recognise or recall the brand.
The consumer will not proceed to the purchasing phase if they are not aware of the brand, in which is known as the consideration phase.
If you ask a person to choose a product among 4 options, they’re more likely to choose the brand that they are familiar with.
For example let’s consider cola, if you give the consumer with a few choices, they are more likely to choose Pepsi or Coca-cola if it is one amongst their choices.
Building brand awareness will help you achieve the following:
- Increase brand equity
- Give you greater advantages over your competitors (ie. lower advertising costs)
- Increase customer retention and loyalty
- Promote your business
- Greater success in product launches